Cabinet Approves Production Linked Incentive Scheme for Food Processing Industry worth Rs 10,900 crore

Cabinet Approves Production Linked Incentive Scheme for Food Processing Industry worth Rs 10,900 crore

• The Union Cabinet has approved the Central Sector Scheme called “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” with an outlay of Rs.10900 crore.
• Scheme will be implemented over a six year period from 2021-22 to 2026-27.
• The Project Management Agency (PMA) shall implement the scheme. PMA will be responsible for appraisal of applications/ proposals, verification of eligibility for support, scrutiny of claims eligible for disbursement of incentive.
• The PLI scheme will support creation of global food manufacturing champions and support Indian brands of food products in the international markets.

Source: MoFPI